15515 89th Street Ct NW, Tacoma, WA 98403
Two-building, 13-unit apartment complex in Key Center.
- Added:
- May 15, 2025
- Days on Market:
- 394
- Last Refresh:
- Apr 5 at 8:11 pm
Property Features for 15515 89th Street Ct NW
General Information
- Standard status
- Active
- Size
- 12,320 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1992
Listing agent NICOLAS LIND
Listing office COMMENCEMENT BAY BROKERS (253) 851-2897
Listing date May 15, 2025
Source Corcoran
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of COMMENCEMENT BAY BROKERS
HighLights
- Well‑maintained 13‑unit apartment complex in fantastic condition
- Currently 100% occupied with great tenants
- Stable cap rate of approximately 5.4%
- Units feature newer carpets, paint, and vinyl windows
- Located in the heart of Key Center, close to shopping, retail, and restaurants
- Potential for increased density
Overview
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $270.5k | $21.96 |
| − Vacancy | −$14.1k | −$1.14 |
| EGI | $256.5k | $20.82 |
| − OpEx | −$115.4k | −$9.37 |
| NOI | $141.1k | $11.45 |
Alternative Uses
Current Use by Public Records
Map
- City
- Tacoma
- County
- Pierce
- State
- Washington
- Longitude
- -122.459
- Latitude
- 47.2652
